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According to this report, the fashion industry is worth $759.5 billion when we look at the e-commerce market, and it’s predicted to be worth over $1.002 trillion by 2025.
Statista reports an overall increase in e-commerce penetration from 46.6% this year to 60.32% by 2024. Applied to the three major fashion segments:
- Apparel: +12.7%
- Footwear: +11.6%
- Bags & Accessories: +8.5%
Also, according to an estimate by Digi-Capital, 3.5 billion people will be using augmented Reality by 2022, which equates to 44% of the world’s population. In an interview with Vogue, Apple CEO Tim Cook stated that Augmented Reality is set to modernize shopping experiences and fashion runways. “I don’t think there is any sector or industry that will be untouched by AR,” Cook said.
With these impressive numbers, it’s not surprising that online fashion shopping is taking over the market, and consumers are way more interested in buying their apparel online than in the past.
However, many potential buyers are still concerned about online shopping when it comes to fashion because they fear buying the wrong size or something that can not suit their style or match their taste.
